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The New York Stock Exchange is relocating its Chicago branch to Dallas, rebranding it as NYSE Texas as part of its expansion into Texas, the exchange announced Wednesday.
Reincorporating in Texas will offer companies a new opportunity to list their securities in the state. The transition remains subject to regulatory approvals and corporate filings, which the NYSE intends to complete in the near term.
“As the state with the largest number of NYSE-listed companies, representing over $3.7 trillion in market value, Texas continues to be a leader in fostering a strong business climate,” said Lynn Martin, president of NYSE Group, in a statement. “We are delighted to expand our presence in the Lone Star State, which plays a key role in driving our U.S. economy forward.”
Dallas-Fort Worth is home to 24 Fortune 500 companies.
This announcement reflects North Texas' rising status as a major center for finance.
In June, a group of financial firms and investors announced plans to launch a Texas-based private market stock exchange and offer traders an alternative to the New York Stock Exchange and Nasdaq. The group, which includes BlackRock, Citadel Securities and about two dozen investors, raised approximately $120 million of capital to create the Texas Stock Exchange, which would be headquartered in Dallas.
“Texas and the other states in the southeast quadrant have become economic powerhouses. Combined with the demand we are seeing from investors and corporations for expanded alternatives to trade and list equities, this is an opportune time to build a major, national stock exchange in Texas,” said James Lee, founder and CEO of TXSE Group, at the time of the announcement.
Nasdaq, too, has expanded its reach in Texas, meaning three players in North Texas.
The decision to establish NYSE Texas comes as Texas continues to attract a wave of corporate relocations and investments. The state’s growing population, strong economic fundamentals, and business-friendly regulatory policies make it an appealing destination for companies seeking alternatives to traditional financial hubs.
By leveraging its 230-year legacy as a premier exchange operator, the NYSE aims to offer public companies a dynamic listing and trading venue in the heart of the southwestern U.S. The move is expected to enhance market access, attract domestic and international listings, and solidify Texas as a financial powerhouse.